JPMorgan Chase raises holdings in Chalco

Published: 29 Dec 2008 17:38:14 PST

Dec. 29, 2008 (China Knowledge) - U.S.-based financial holding company JPMorgan Chase & Co has raised its shareholding in Aluminum Corp of China Ltd (Chalco)<601600><2600><ACH> to 6.12% from 5.89% on Dec. 18, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx)<388>.

HKEx said in a statement that JPMorgan Chase has acquired 9.2205 million H-shares in Chalco for HK$45.36 million. The average price of the share transaction was HK$ 4.92 apiece.

This is the second time that JPMorgan bought Chalco's H-shares in December.

JPMorgan had acquired 1.184 million H-shares in Chalco for HK$42.39 million or HK$ 3.58 apiece, boosting its holdings in the mainland largest aluminum producer to 5.89% from 4.85%, according to China Knowledge's earlier report.

H-shares of Chalco rose 2.21% to end at HK$4.17 on Dec. 24.

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